8.35%XLF 17.28 7.99%QQQQ 33.29 7.99%
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NEW YORK - The chief executive, president and chairman of media marketing and research company Arbitron Inc. exercised options for and sold 7,300 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.
| ARB | 40.33 |  -2.22 |
In a Form 4 filed with the SEC, Stephen B. Morris reported exercising the options on Tuesday for $23.91 apiece and then selling the shares on the same day for $44.31.
The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Arbitron is based in New York.
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